Record Backlog
Bookings of $250 million resulted in a record backlog of $1.4 billion, reflecting a year-over-year growth of 6.5%.
Revenue and EBITDA Growth
Revenue of $225 million was up 10.2% year-over-year, while adjusted EBITDA increased by 66% to $35.6 million, with a margin of 15.8%, up 530 basis points year-over-year.
Improved Free Cash Flow
The company reported a $16.5 million improvement in free cash flow year-over-year, despite a free cash outflow of $4.4 million for the quarter.
Margin Expansion
Gross margin improved by approximately 260 basis points to nearly 28% year-over-year, driven by favorable program mix and operational efficiencies.
Strategic Buyback Authorization
A new $200 million buyback authorization was announced, reflecting confidence in the business and its long-term growth prospects.